FY2021 EPS Estimates for FMC Corp Boosted by Jefferies Financial Group (NYSE:FMC)
FMC Corp (NYSE:FMC) – Jefferies Financial Group lifted their FY2021 earnings per share estimates for shares of FMC in a research report issued on Monday, June 10th. Jefferies Financial Group analyst L. Alexander now forecasts that the basic materials company will earn $7.60 per share for the year, up from their prior estimate of $7.55. Jefferies Financial Group currently has a “Buy” rating and a $112.00 target price on the stock. Jefferies Financial Group also issued estimates for FMC’s FY2022 earnings at $8.20 EPS.
FMC (NYSE:FMC) last released its earnings results on Monday, May 6th. The basic materials company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. FMC had a return on equity of 27.53% and a net margin of 9.57%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned $1.84 EPS. The firm’s revenue was up 7.6% on a year-over-year basis.
Shares of FMC opened at $79.91 on Wednesday. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 1.29 and a beta of 1.46. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.92 and a current ratio of 1.26. FMC has a fifty-two week low of $69.36 and a fifty-two week high of $92.76.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, June 27th. FMC’s dividend payout ratio is currently 25.44%.
In other news, insider Mark Douglas sold 18,500 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $75.12, for a total transaction of $1,389,720.00. Following the sale, the insider now directly owns 47,594 shares of the company’s stock, valued at approximately $3,575,261.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Pierre R. Brondeau sold 33,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $73.09, for a total transaction of $2,411,970.00. Following the sale, the chief executive officer now directly owns 284,814 shares in the company, valued at $20,817,055.26. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Paragon Capital Management LLC purchased a new stake in shares of FMC during the 1st quarter worth about $31,000. Lindbrook Capital LLC purchased a new stake in shares of FMC during the 4th quarter worth about $31,000. Riverview Trust Co purchased a new stake in shares of FMC during the 4th quarter worth about $32,000. Global Retirement Partners LLC boosted its stake in shares of FMC by 128.6% during the 1st quarter. Global Retirement Partners LLC now owns 455 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 256 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of FMC by 114.9% during the 1st quarter. Rockefeller Capital Management L.P. now owns 578 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 309 shares in the last quarter. 90.00% of the stock is currently owned by institutional investors and hedge funds.
FMC Company Profile
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.
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